CMA CGM completes €5 billion acquisition of Bolloré Logistics

CMA CGM completes €5 billion acquisition of Bolloré Logistics

The CMA CGM Group has successfully finalised the 100 per cent purchase of Bolloré Logistics.

This deal comes nine months after the group granted a put option to Bolloré Group for the sale of Bolloré Logistics.

The acquisition price is approximately €4.85 billion ($5.24 billion), based on the projected debt and cash at the completion date.

Bolloré Logistics reportedly generated €7.1 billion ($7.6 billion) in revenue in 2022, transported 710,000 TEU of maritime freight and 390,000 tonnes of air freight, and had a storage capacity of 900,000 square metres.

This is the group’s largest purchase since its inception in 1978.

READ: Bolloré Logistics presents green offer SEAalternative

Rodolphe Saadé, CEO and Chairman of the CMA CGM Group, declared: “The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses. 

“On behalf of the Group and my family, I would like to welcome the 14,000 employees who are joining us today. Together, we will combine our talents and accelerate our development.”

READ: CMA CGM, Masdar collaborate on green alternative fuels

Cyrille Bolloré, CEO and Chairman of the Bolloré Group, added: “This is the beginning of a new chapter for Bolloré Logistics’ employees. I am very pleased that they are joining the CMA CGM Group and the Saadé family.

“They will bring unique expertise and know-how, which have long made the pride of the Group and which will be the pride of CMA CGM tomorrow.”

CMA CGM recently reviewed the situation in the Southern Area of the Red Sea, and the changing conditions allowed it to continue transit on a case-by-case basis.

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